Maloperation of protective relays is one of the major causes for cascading tripping in WANS. Another line trip followed by a previous line trip may occur due to overloading of the line, because of the load redistribution or unwanted trip of a backup relay due to change in the flow of fault current. Evaluation of each line is required by considering both of these effects. A new index named Line Security Index (LSI) is proposed in this paper which combines both Vulnerability Index (VI) and Protectability Index (PI) to completely evaluate the security of individual lines and their importance in the power grid. Computer simulations have been performed on the Korean power grid data to establish the feasibility of the proposed idea.